Tata Metaliks records 40% rise in Q2 profit Global demand for Indian organic food products on constant rise
KOLKATA: Tata Metaliks Limited recentlay declared its Financial Results for the second quarter of FY19. TML recorded a turnover of Rs. 547 crores and Profit before TAX(PAT) of Rs 63.02 crores for the quarter ended September 30, 2018. For the half year ended September 30, 2018 TML recorded a turnover of Rs 1,015 crores and PAT of Rs 104.48 crores.
While DI pipe sales volume in Q2FY19 increased by 11 per cent over Q2 FY18 on account of improved market and sales planning, the increase in sales of Pig Iron was marginal at 3 per cent.
The increased sales volume of both the products were supported by higher price realization of 9 per cent for DI pipes and 21 per cent for Pig Iron in Q2 FY19 over same quarter of the previous year. However, there was a cost push by way of increase in prices of iron ore, coal and coke. The above increase in sales coupled with improved cost efficiencies particularly in usage of coke helped the company achieve a significant jump in EBITDA by 30 per cent over Q2 FY18.
Managing Director Sandeep Kumar, said, “The Company's significantly improved financial performance in Q2 FY19 has been primarily driven by our continued focus on achieving cost leadership through operational and structural cost reduction initiatives despite volatility in commodity prices. The outlook for H2 looks positive with likely demand pick-up of DI pipes.” NEW DELHI: The demand for Indian organic food products is on constant rise around the world as Country exported organic products worth $515 million in financial year 201718. It was up 39 per cent compared to the export worth $370 million in Financial year 201617. The total volume of export during 2017-18 was 4.58 lakh Metric Tonne .
The organic food export realization was around Rs. 3453 crore ($515 million). Organic products are exported to countries such as USA, European Union, Canada, Switzerland, Australia, Israel, South Korea, Vietnam, New Zealand, Japan etc.
“The major demands under the organic product category are for Oil seeds, Cereals & Millets, Sugar, Fruit juice concentrates, Tea, Spices, Pulses, Dry fruits, Medicinal plant products etc. Many new countries like Israel, Vietnam, Mexico are also taking interest recently. The equivalency granted by European Commission and Switzerland for unprocessed plant products and the conformity assessment granted by USDA has played pivotal role in increased export,” said Dr Tarun Bajaj, General Manager. Agricultural and Processed Food Products Export Development Authority (APEDA.
“India is also negotiating with Canada, South Korea, Taiwan and Japan for equivalency with NPOP. In addition the traceability system, Tracenet established by APEDA for certification and export of organic products also helps India to maintain the credibility and traceability of certified products.” said Dr Tarun Bajaj,
“Under National Programme for Organic Production, area under organic certification during 2017-18 was 3.56 million Hectare. This includes 1.78 million hectare cultivable area and another 1.78 million Hectare for wild harvest collection,” said Dr Bajaj.